Kanye West recently made headlines for selling his controversial Malibu mansion to Belwood Investments, a real estate crowdfunding firm based in California. The deal reportedly went through for around $21 million, a significant drop from the $57.3 million he initially paid for the property in 2021.
The mansion, designed by renowned architect Tadao Ando, was stripped down to its bare bones by West, allegedly to transform it into a bomb shelter. However, after failing to attract buyers at the $53 million price tag, West and his realtor, “Selling Sunset” star Jason Oppenheim, had to slash $14 million off the asking price.
Despite the price cut, the property remained unsold until Belwood Investments swooped in to purchase it. The company’s CEO, Bo Belmont, has big plans for the mansion, announcing a $5 million investment to restore it to its former glory as envisioned by Ando.
Belmont expressed his excitement about the acquisition, stating, “This is not just a phenomenal real estate investment; it is an opportunity to revitalize and preserve an architectural gem by the renowned Tadao Ando, ensuring it remains a jewel of Malibu.”
With a hefty investment planned for the property, Belmont is optimistic about the future of the mansion. However, only time will tell if the $5 million will be enough to turn the once-gutted mansion into a true architectural masterpiece.
